UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

X Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
  Act of 1934

                 For the quarterly period ended June 30, 2002

                                       Or
__ Transition report pursuant to Section 13 or 15(d) of the Exchange Act

                        Commission File Number 000-49781

                          First Security Bancorp, Inc.
        (Exact Name of Small Business Issuer as Specified in Its Charter)

            Kentucky                                      61-1364206
            --------                                      ----------
  (State of other jurisdiction of                       (I.R.S. Employer
   incorporation or organization)                       identification No.)

318 East Main Street, Lexington,  Ky   40507
(Address of Principal Executive Offices)
(859) 367-3700
(Issuer's Telephone Number, Including Area Code)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                        X Yes ___ No

The number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: Common stock, no par value - 1,456,250
shares outstanding as of August 12, 2002.

Transitional Small Business Disclosure Format (check one):
                    ___ Yes   X   No



<PAGE>



FIRST SECURITY BANCORP, INC.
TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements................................................3
Item 2.  Management's Discussion and Analysis or Plan of Operation..........11

PART II -OTHER INFORMATION
Item 4   Submission of Matters to a Vote of Security Holders................19
Item 6.  Exhibits and Reports on Form 8-K...................................19


<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements

                          First Security Bancorp, Inc.
                     Consolidated Balance Sheet (Unaudited)
                                                            (in thousands)


Assets                                            June 30        December 31
                                                   2002             2001
                                                   ----             ----

Cash and due from banks                         $  5,421        $  4,521
Federal funds sold                                   451           4,397
                                              ----------      ----------
         Total cash and cash equivalents           5,872           8,918
Securities available for sale                     45,097          32,309
Mortgage loans held for sale                       1,688               0
Loans                                            163,856         152,422
         Less allowance for loan losses           (1,526)         (1,538)
                                              ----------       ----------
Net loans                                        162,330         150,884
FHLB stock                                           688             539
Leasehold improvements, premises
         and equipment, net                        7,922           7,656
Accrued interest receivable                        1,209           1,133
Other assets                                         589             831
                                              ----------       ---------
         Total Assets                           $225,395        $202,270
                                                  ======          ======
Liabilities and Shareholders' Equity

Liabilities
         Deposits
Non-interest bearing                            $ 17,356        $ 12,575
Time deposits $100,000 and over                   52,434          44,498
Other interest bearing                           120,493         111,671
                                            ------------   -------------
         Total Deposits                          190,283         168,744
Repurchase agreements and
         short-term borrowings                     2,865          12,957
Federal Home Loan Bank advances                   13,490           2,336
Accrued interest payable                             659             832
Other liabilities                                    193             574
                                            ------------   -------------
         Total Liabilities                     $ 207,490       $ 185,443


Shareholders' Equity

Common stock no par value                          8,385           8,385
Paid-in capital                                    8,385           8,385
Retained earnings                                    869             383
Accumulated other comprehensive
   income, net of tax                                266            (326)
                                                --------       ---------
         Total Shareholders' Equity               17,905          16,827
                                                --------       ---------
Total Liabilities and Shareholders' Equity      $225,395        $202,270
                                                  ======          ======


<PAGE>

                          First Security Bancorp, Inc.
                  Consolidated Statements of Income (Unaudited)
                      (three months and six months ended)
                     (in thousands, except per share data)


                                  Three Months Ended         Six Months Ended
                                      June 30                     June 30
                                    2002     2001              2002      2001

Interest Income

Loans, including fees           $  2,791  $ 2,553           $ 5,543  $  4,965
Securities- taxable                  364      254               690       483
Securities- nontaxable               174       68               333        75
Federal funds sold                     4       30                15       164
Other                                  8        7                14        23
                                     ---      ---               ---       ---
                                   3,341    2,912             6,595     5,710

Interest Expense

Deposits                           1,614    1,737             3,414     3,469
Other Borrowings                     119       74               208       106
                                     ---      ---               ---       ---
                                   1,733    1,811             3,622     3,575
                                     ---      ---               ---       ---

Net Interest Income                1,608    1,101             2,973     2,135

Provision for loan losses            233      101               390       201
                                     ---      ---               ---       ---

Net interest income after provision
     for loan loss                 1,375    1,000             2,583     1,934

Noninterest Income

Service charges and deposit fees     136       50               261        83
Securities gains                      65       88                65        95
Gain on sale of loans                 21        0                21         0
Loss on sale of land                   0      (17)                0       (17)
Other                                 76       29               115        55
                                     ---      ---               ---       ---
                                     298      150               462       216

Noninterest Expense

Salaries and employee benefits       614      429             1,201       836
Occupancy and equipment              240      112               454       192
Data processing                       46       45                98        82
Advertising                           31       40                78        73
Professional fees                     69       42               106        68
Taxes other than payroll, property,
   and income                         48       33                97        67
Other                                220      123               426       253
                                     ---      ---               ---       ---

                                   1,268      824             2,460     1,571
                                     ---      ---               ---       ---

Income before income taxes           405      326               585       579
Provision for income taxes            79        0                99         0
                                     ---      ---               ---       ---
Net income                         $ 326    $ 326             $ 486     $ 579


Weighted average common shares outstanding:

Basic                              1,456     1,456            1,456      1,455
Diluted                            1,512     1,489            1,504      1,489

Earnings per share:

Basic                             $ 0.22    $ 0.22           $ 0.33     $ 0.40
Diluted                             0.22      0.22             0.32       0.39



                          First Security Bancorp, Inc.
      Consolidated Statement of Changes In Shareholders' Equity (Unaudited)
                                 (in thousands)
<TABLE>
<CAPTION>

                                                                                Accumulated
                                                     Additional                 Other            Total
                           --Common Stock--          Paid-In     Retained       Comprehensive    Shareholders'
                           Shares   Amount           Capital     Earnings       Income (Loss)    Equity
<S>                        <C>      <C>              <C>          <C>           <C>             <C>

Balance January 1, 2002    1,456    $ 8,385          $ 8,385      $ 383         $  (326)        $ 16,827

Net Income                     -          -                -        486                -             486


Change in unrealized gain (loss)
on securities available for sale, net
of reclassification and tax effects       -                -          -              592            592
                                                                                                    ---

Total comprehensive income                -                -          -                -           1,078
                         -------   --------         --------   --------         --------        --------
Balance June 30, 2002      1,456    $ 8,385          $ 8,385      $ 869            $ 266        $ 17,905
                            ====      =====            =====      =====            =====           =====

</TABLE>

<PAGE>




                          First Security Bancorp, Inc.
                      Statements of Cash Flows (Unaudited)
                     Six Months Ended June 30, 2002 and 2001
                                 (in thousands)
                                                        Six Months Ended

                                                      2002            2001
                                                      ----            ----
Cash flows from Operating Activities:
Net income                                           $ 486           $ 579
Adjustments to reconcile net income to net
  cash from operating activities
         Depreciation                                  215             114
         Amortization of identified intangibles          2               0
         Amortization and accretion on available
            for sale securities, net                   136             (27)
         Provision for loan losses                     390             201
         Federal Home Loan Bank Stock dividends        (13)             (9)
         Gain on sale of securities                    (65)            (95)
         Gain on sale of loans                         (21)              0
         Loss on sale of land                            0              17
         Change in assets and liabilities:
                  Accrued interest receivable          (76)            (76)
                  Other assets                         (66)            (31)
                  Accrued interest payable            (173)             54
                  Other liabilities                   (381)             (5)
                                                   --------         -------
Net cash from operating activities                      434            732

Cash flows from investing activities
         Net change in loans                        (13,503)       (19,549)
          Activity in available for sale securities
                  Maturities, Calls,
                     and principal repayments         3,434           4,591
                  Purchases                         (24,788)        (21,112)
                  Sales                               9,393           6,975
         Leasehold improvements and net purchases
             of premises and equipment                 (414)           (508)
         Purchases of FHLB stock                       (136)            (91)
         Cash paid in acquisition                       (67)              0
                                                -----------     -----------
                Net cash from investing activities   (26,081)        (29,694)

Cash flows from financing activities
         Net change in deposits                       21,539          16,024
         Net changes in securities sold under agreements
              to repurchase                          (10,092)          8,489
         Repayments on Federal Home Loan Bank advance   (146)             (5)
         Issuance of common stock                          -             628
         Proceeds from Federal Home Loan Bank advances 11,300              0
                                                    ----------     ----------
         Net cash from financing activities            22,601          25,136
                                                    ----------      ----------
Net change in cash and cash equivalents                (3,046)         (3,826)

Cash and cash equivalents at beginning of period         8,918           8,298
                                                     ---------       ---------
Cash and cash equivalents at end of period             $ 5,872         $ 4,472
                                                         =====           =====
Supplemental Disclosure of Cash Flow Information:
         Cash paid during the period for:   Interest   $ 3,795         $ 3,521
                                        Income taxes       530               1


NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     The accounting and reporting policies of First Security Bancorp,  Inc. (the
"Company")  and its  wholly-owned  subsidiary  First Security Bank of Lexington,
Inc. (the "Bank")  conform to accounting  principles  generally  accepted in the
United  States of  America  and to  predominant  practices  within  the  banking
industry. The significant policies are described below.

     The Bank is a Kentucky corporation  incorporated to operate as a commercial
bank under a state bank charter. The Bank generates  commercial,  mortgage,  and
installment loans, and receives deposits from customers located primarily in the
Fayette County, Kentucky area. The majority of the Bank's income is derived from
lending  activities.  The  majority of the Bank's  loans are secured by specific
items of collateral including business assets, real estate, and consumer assets,
although  borrower cash flow may also be a primary  source of repayment.  All of
the Bank's  operations  are  considered by management to be aggregated  into one
reportable operating segment.

     Recent Accounting Pronouncements: Beginning January 1, 2002, a new standard
requires all business  combinations  to be recorded using the purchase method of
accounting for any transaction initiated after June 30, 2001. Under the purchase
method,  all identifiable  tangible and intangible assets and liabilities of the
acquired  company must be recorded at fair value at date of acquisition  and the
excess of cost over fair value of net assets  acquired is recorded as  goodwill.
Identifiable  intangible  assets must be separated from  goodwill.  Identifiable
intangible  assets  with finite  useful  lives will be  amortized  under the new
standard,  whereas goodwill, both amounts previously recorded and future amounts
purchased,  will cease  being  amortized  starting  in 2002.  Annual  impairment
testing will be required  for goodwill  with  impairment  being  recorded if the
carrying  amount of  goodwill  exceeds its implied  fair  value.  The  company's
adoption of this standard did not have a material effect.
     The  accompanying  unaudited  consolidated  financial  statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information and with the  instructions to Form 10-QSB and Item 310 of
Regulation  S-B.  Accordingly,  they do not include all of the  information  and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal recurring accruals)  considered necessary for a fair presentation have
been included.  Operating  results for the six-month period ending June 30, 2002
are not  necessarily  indicative  of the results  that are expected for the year
ended December 31, 2002.


NOTE 2 - SECURITIES
<TABLE>
<CAPTION>

Securities were as follows:                                   Gross             Gross
                                            Amortized         Unrealized        Unrealized       Fair
                                            Cost              Gains             Losses           Value
                                            --------------    --------------    -------------    ------
                                                              (in thousands)
Available for Sale
<S>                                         <C>               <C>               <C>              <C>

June 30, 2002
         U. S. Government Agency                  $ 1,687              $14               $ 0     $ 1,702
         State and Municipal                       13,618              128              (31)      13,715
         Mortgage-backed                           29,389              306              (15)      29,680
                                               ----------            -----          --------  ----------
         Total debt securities                   $ 44,694            $ 448             $(46)     $45,097
                                                   ======              ===             =====      ======
December 31, 2001
         U. S. Government Agency                    $ 500              $ 3                 -       $ 503
         State and Municipal                       13,381                1             (449)      12,933
         Mortgage-backed                           18,923               98             (148)      18,873
                                              -----------          -------         --------- -----------
         Total debt securities                   $ 32,804            $ 102           $ (597)    $ 32,309

                                                   ======             ====             =====      ======
</TABLE>

     Securities  pledged at June 30, 2002 and year-end 2001 had carrying amounts
of $2.5  million and $13.0  million,  respectively,  and were  pledged to secure
customer  repurchase  agreements  and to the Federal  Reserve  Discount  window.
Proceeds from  securities sold during the six months ended June 30, 2002 totaled
$9.4 million and resulted in a net gain of $65,000.


<PAGE>



NOTE 3 - LOANS
Loans were as follows:         June 30, 2002                  December 31, 2001
                               -------------                 ------------------
                                             (in thousands)
Mortgage loans on real estate        $46,449                            $46,106
Commercial                            76,591                             68,584
Consumer mortg                        35,119                             32,349
Other consumer                         5,697                              5,383
                                ------------                       ------------
                                   $ 163,856                          $ 152,422
                                     =======                            =======
Changes in the allowance for loan losses were as follows:
<TABLE>
<CAPTION>

                                                   Three Months Ended              Six Months Ended
                                                        June 30                        June 30
                                                     (in thousands)                 (in thousands)
<S>                                              <C>         <C>                  <C>      <C>

                                                    2002        2001                 2002     2001
                                                    ----        ----                 ----     ----
Beginning balance                                $ 1,679     $ 1,318              $ 1,538  $ 1,221
         Loans charged off                          (388)        (46)                (406)     (49)
         Recoveries                                    2           0                    4        0
         Provision for loan losses                   233         101                  390      201
                                                     ---         ---                  ---      ---

Ending balance                                   $ 1,526     $ 1,373              $ 1,526  $ 1,373

</TABLE>

Note 4: EARNINGS PER SHARE
<TABLE>
The factors used in the earnings per share computation follow:
<CAPTION>

                                              Three Months Ended                     Six Months Ended
                                                    June 30                              June 30
                                            2002              2001                2002              2001
<S>                                       <C>               <C>                 <C>                <C>

Basic
     Net Income                           $  326            $  326              $  486             $ 579

Weighted average common shares             1,456             1,456               1,456             1,455
Basic earnings per share            $        .22             $ .22              $  .33             $ .40

Diluted
     Net Income                            $ 326             $ 326               $ 486             $ 579

Weighted average common shares             1,456             1,456               1,456             1,455
Add: Dilutive effects of assumed exercises
     of stock warrants                        56                33                  48                34
                                            ----               ---                 ---               ---
Average shares and dilutive potential
     common shares                         1,512             1,489               1,504             1,489
                                           -----             -----               -----             -----

Diluted earnings per common share          $ .22            $  .22              $  .32            $  .39
</TABLE>

Note 5:  ACQUISITION

     On June 3,  2002,  the Bank  acquired  certain  assets  of  First  Mortgage
Company,  Inc., in Lexington,  Kentucky. The operations were assumed by the Bank
promoted under the name First Security Mortgage Company, the purpose of which is
to originate  mortgage loans for sale into the secondary market. The acquisition
agreement included a purchase price of up to $476,000, $67,000 of which was paid
at closing.  The remainder of the purchase price is payable  contingent upon the
division's  earnings over the next four years.  The acquisition  also included a
four-year employment  agreement with First Mortgage's  shareholder and president
at a salary level similar to that of other executives of the Bank.

Part I Item 2.

Management's Discussion and Analysis or Plan of Operation

General
     First Security Bank is a commercial  banking  organization  organized under
the laws of the  Commonwealth of Kentucky,  and is a wholly-owned  subsidiary of
First  Security  Bancorp.  First  Security Bank offers a variety of products and
services through four full -service offices including the acceptance of deposits
for  checking,  savings  and time  deposit  accounts;  extension  of secured and
unsecured loans to corporations,  individuals and others; issuance of letters of
credit;  and  rental  of safe  deposit  boxes.  First  Security  Bank's  lending
activities  include  commercial and industrial loans, real estate,  installment,
and other  consumer  loans and revolving  credit plans.  Operating  revenues are
derived  primarily  from  interest  and  fees on  loans  and  from  interest  on
investment securities.

     We have made, and may continue to make, various forward-looking  statements
with respect to credit quality  (including  delinquency trends and the allowance
for loan losses), corporate objectives and other financial and business matters.
When  used in this  discussion  the  words  "anticipate,"  "project,"  "expect,"
"believe,"  and similar  expressions  are  intended to identify  forward-looking
statements.  In addition to factors  disclosed by First  Security  Bancorp,  the
following factors, among others, could cause actual results to differ materially
from such  forward-looking  statements:  Pricing  pressures  on loan and deposit
products; competition; changes in economic conditions both nationally and in our
market;  the  extent  and  timing  of  actions  of the  Federal  Reserve  Board;
customers' acceptance of our products and services; and the extent and timing of
legislative and regulatory actions and reforms.

Overview
     The  mission  of First  Security  Bank is to  firmly  establish  itself  in
Lexington,  Kentucky as a full-service bank providing  traditional  products and
services  typically offered by commercial banks. The Lexington banking market is
highly  competitive with 18 commercial banks and thrift  institutions  currently
serving  the  market.  Most of the banks in  Lexington  are part of larger  bank
holding companies headquartered outside of the Lexington / Fayette County market
and Kentucky. Promoting local management has proven effective for First Security
Bank in attracting customers, fostering loyalty and establishing and maintaining
strong asset quality.


Results of Operations
     Net income for the six months ended June 30, 2002 was $486,000, compared to
$579,000 for the six months ended June 30, 2001. Net income decreased  primarily
due to increased costs  associated with facilities and personnel,  and increased
provision  for loan losses.  Net income for the three months ended June 30, 2002
and June 30, 2001 was $326,000.  Earning assets increased from $189.7 million as
of December 31, 2001 to $211.8 million as of June 30, 2002. Net loans  increased
from  $150.9  million as of December  31, 2001 to $162.3  million as of June 30,
2002.  Total  deposits  increased from $168.7 million as of December 31, 2001 to
$190.3 million as of June 30, 2002.

     In December,  2000 First Security Bank purchased a former banking  facility
at 318-320  East Main Street in downtown  Lexington  for $3.5 million to replace
its main  office.  First  Security  Bank moved its  downtown  offices to the new
facility in September, 2001. The new location features drive-through windows, an
ATM and  innovative  interior  design  features.  A total  of $1.2  million  was
invested  on the new  facility  in  addition  to its  purchase  price.  A fourth
location  was also  opened  during the fourth  quarter of 2001.  A building  was
purchased and was opened for this purpose at a total cost of $906,000.  The land
for this facility was leased for $5,600 per month. Growth in net income and book
value  per share  will be  negatively  impacted  until  the  growth in  earnings
resulting from these new locations covers the additional  costs.  First Security
Bancorp believes,  however,  that the potential longer term benefits,  including
prospects  for new loan and deposit  growth,  outweigh the  potential  near term
costs.  On June 3, 2002,  First  Security  Bank of Lexington  purchased  certain
assets of First Mortgage Company, Inc. in an effort to expand its penetration of
the Central  Kentucky  residential  mortgage loan market.  This  acquisition has
enhanced the bank's products and service  offerings and benefited its customers.
These mortgage  products and services,  now offered  through First Security Bank
under  the name of First  Security  Mortgage  Company,  will be a new  source of
noninterest income.

Net Interest Income
     First  Security  Bancorp's  principal  source of  revenue  is net  interest
income.  Net  interest  income  is the  difference  between  interest  income on
interest-earning assets, such as loans and securities,  and the interest expense
on liabilities used to fund those assets, such as interest-bearing  deposits and
borrowings.  Net  interest  income is impacted by both changes in the amount and
composition of interest-earning assets and interest-bearing  liabilities as well
as market interest rates.

     The change in net interest  income is typically  measured by changes in net
interest spread and net interest  margin.  Net interest spread is the difference
between the average  yield on  interest-earning  assets and the average  cost of
interest-bearing  liabilities. Net interest margin is determined by dividing net
interest income by interest-earning assets.

     Net interest  income was $1.608 million for the three months ended June 30,
2002 compared to $1.101 million in 2001, resulting in an increase of $507,000 or
46.0%.  The increase in net interest  income was  primarily the result of volume
increases in earning  assets,  and to a lesser degree,  a decline in the general
level of deposit  rates,  resulting  in an  decrease in  interest  expense.  Net
interest margin  increased to 3.14% for the quarter ended June 30, 2002,  versus
2.78% for the previous  quarter,  and 3.12% for the quarter ended June 30, 2001.
As the result of a lower first quarter margin,  year-to-date net interest margin
decreased to 2.97% from 3.14% for the six month period ended June 30, 2001.  The
increase  in the  second  quarter  margin was  caused by the  repricing  of rate
sensitive  liabilities,  precipitated  by a  decline  in the  general  level  of
interest  rates,  at a faster rate than rate sensitive  assets which had already
repriced in prior  quarters.  In order to improve  net  interest  margin,  First
Security   Bank   previously   deployed   available   funding  by  investing  in
mortgage-backed  securities and federally  tax-exempt  bonds. In addition,  loan
pricing  strategies have been adjusted and features such as interest rate floors
have been added.  The results of these  strategies are reflected in the increase
in net interest margin in the second quarter.
<PAGE>
Noninterest Income and Expenses
     Noninterest  income  increased  from $216,000 to $462,000 for the six month
periods  ended June 30, 2001 and 2002,  respectively.  Amounts were $150,000 and
$298,000 for the quarters ended June 30, 2001 and 2002, respectively. Components
of noninterest  income  include  service  charges and fees on deposit  accounts,
securities gains, and other fees. The primary increase in noninterest income was
the  result of service  charges  and fees on deposit  accounts  increasing  from
$83,000 to $261,000  for the year and from  $50,000 to $136,000 for the quarter.
The  increase in these fees  resulted  from the  introduction  of a new checking
product and growth in total deposit accounts.  Securities gains were $95,000 for
the six months ended June 30, 2001, versus $65,000 for the six months ended June
30, 2002.  Securities  gains were taken on investments  sold,  with the proceeds
subsequently  reinvested.  Gains of this nature are  infrequent and irregular in
amount,  and are not anticipated to regularly  increase  earnings in significant
amounts  such as these going  forward.  Gain on sale of loans for the six months
ended June 30,  2002 was  $21,000.  This is a new  source of  revenue  for First
Security  Bank,   offered  through  First  Security   Mortgage  Co.   Management
anticipates  that this revenue source will grow going forward,  fluctuating with
cycles  experienced  in the  secondary  mortgage  market  caused by  changes  in
interest rates.
     Total noninterest  expense was $2.460 million for the six months ended June
30, 2002,  versus $1.571  million for the six months ended June 30, 2001.  Total
noninterest  expense  for the  quarter  ended June 30,  2002 was $1.268  million
versus $824,000 for the quarter ended June 30, 2001.  Salaries and benefits were
$1.201  million and  $836,000  for the six months  ended June 30, 2002 and 2001,
respectively, and $614,000 and $429,000 for the three months ended June 30, 2002
and 2001,  respectively.  The number of full-time equivalent employees increased
from 32 at June 30, 2001 to 54 at June 30, 2002.  Staffing levels increased as a
result of the addition of a fourth branch office in the fourth  quarter of 2001,
the  relocation  to the new main office  facility  in  September  2001,  and the
acquisition of First Mortgage  Company,  Inc. in June 2002. We anticipate modest
increases in noninterest expense during the remainder of 2002.
     Occupancy and equipment  expense,  net of rental revenue,  was $454,000 and
$192,000  for the six months  ended June 30,  2002 and 2001,  respectively,  and
$240,000  and  $112,000  for the  three  months  ended  June 30,  2002 and 2001,
respectively.  The increase  resulted  primarily from operating costs associated
with  the  fourth  branch  office,  the new  main  office  facility,  and  costs
associated with the acquisition and operations of First Mortgage Company, Inc.
     In the third  quarter  of 2001,  First  Security  Bancorp  began  recording
federal income tax expense,  which for the six month period ended June 30, 2002,
was  $99,000.  Income  tax  expense  was  not  previously  recorded  due to both
historical losses and concern about First Security  Bancorp's ability to utilize
certain deferred tax assets. Going forward,  income tax expense will continue to
be recorded at approximately 34% of taxable income.

Investment Securities
     Through all reported periods,  First Security Bank's  investment  portfolio
consisted  primarily of state and municipal bonds and mortgage backed bonds. The
amortized  cost of  investment  securities  increased  from $32.8  million as of
December  31,  2001 to  $44.7  million  as of June 30,  2002.  The  increase  in
investment  securities  resulted from the  redeployment of excess liquidity into
higher yielding assets and the purchase of bank qualified municipal  securities,
the earnings of which are largely not subject to federal income tax.


Loans
     Net loans  increased  $11.4 million from $150.9  million as of December 31,
2001,  to $162.3  million  as of June 30,  2002.  As of the end of each  period,
approximately  74% of  First  Security  Bank's  loan  portfolio  was in loans to
commercial  businesses  and  commercial  real  estate  borrowers.  Loans  in the
consumer  sector of the portfolio,  which includes  consumer  mortgage and other
consumer loans,  comprised  approximately  26% of the portfolio as of the end of
both periods.  First  Security  Bank desires  increased  penetration  within the
consumer  loan  market and  believes  the new  locations  should  help build new
customer relationships.


Allowance and Provision for Loan Losses
     The  provision for loan losses  increased  from $201,000 for the six months
ended June 30, 2001 to $390,000 for the same period in 2002.  Quarterly  amounts
increased  from  $101,000 to $233,000 for the  quarters  ended June 30, 2001 and
2002, respectively.  The increase in the provision for loan losses resulted from
an increase in the level of  nonperforming  loans and a related  increase in net
charge-offs,  a growth in the level of outstanding  loans,  and a decline in the
local and national economy.
     Net  charge-offs  for the six months  ended June 30, 2002 were  $402,000 as
compared to $49,000 for the same period in 2001.  The level of  charge-offs  for
the  first  six  months  of 2002  was  significantly  impacted  by a  charge-off
involving one borrower in the amount of $335,000.
     As of June 30,  2002,  nonperforming  assets  (which  includes  non-accrual
loans, loans past due 90 days or more and still accruing,  and other real estate
owned) totaled $2.3 million, as compared to $789,000 at December 31, 2001. There
were no  nonperforming  assets  at June  30,  2001.  Nonperforming  assets  as a
percentage  of total loans were 1.40% at June 30, 2002,  as compared to 0.52% at
December  31,  2001.  Management  continues  to  emphasize  evaluation  of  loan
portfolio risks and will pursue all available means of collection.
     The  allowance  for loan losses is regularly  evaluated by  management  and
reported  quarterly  to our  board of  directors.  Our  management  and board of
directors  maintain  the  allowance  for loan  losses at a level  believed to be
sufficient  to  absorb  inherent  losses  in the  portfolio  at a point in time.
Management's  allowance for loan loss estimate  consists of specific and general
reserve  allocations  as influenced  by various  factors.  Such factors  include
changes in lending policies and procedures;  underwriting standards; collection,
charge-off  and recovery  history;  changes in national  and local  economic and
business  conditions and  developments;  changes in the  characteristics  of the
portfolio;  ability and depth of lending  management  and staff;  changes in the
trend of the volume and severity of past due,  non-accrual and classified loans;
troubled  debt  restructuring  and other  loan  modifications;  and  results  of
regulatory  examinations.  To evaluate the loan  portfolio,  management has also
established loan grading procedures. These procedures establish a grade for each
loan upon origination  which is periodically  reassessed  throughout the term of
the loan. Grading categories  include prime,  good,  satisfactory,  fair, watch,
substandard, doubtful, and loss. Specific reserve allocations are calculated for
individual  loans  having  been  graded  watch  or worse  based on the  specific
collectability  of each loan.  Loans graded  watch or worse also  include  loans
severely past-due and those not accruing  interest.  Loss estimates are assigned
to each loan,  which results in a portion of the allowance for loan losses to be
specifically allocated to that loan.
     The general  reserve  allocation  is computed by loan  category  reduced by
loans with specific reserve  allocations and loans fully secured by certificates
of deposit with First Security  Bank.  Loss factors are applied to each category
for which the  cumulative  product  represents the general  reserve.  These loss
factors are typically  developed over time using actual loss experience adjusted
for the various factors discussed above. As First Security Bank was organized in
1997, our historical loss  experience is less reliable as a future  predictor of
inherent  losses than that of a bank with a mature loss  history.  Until our own
experience  becomes fully  developed,  we have computed these factors  utilizing
selected  peer  data and from the  Uniform  Bank  Performance  Reports  which we
believe  is  representative  of  our  loan  customer  base  and is  therefore  a
reasonable predictor of inherent losses in our portfolio.

     We believe the  allowance  for loan  losses at June 30, 2002 was  adequate.
Although  we believe we use the best  information  available  to make  allowance
provisions,  future  adjustments which could be material may be necessary if the
assumptions  used to determine the allowance  differ from future loan  portfolio
performance.

Deposits and Other Borrowings
     The deposit base  provides  the major  funding  source for earning  assets.
Total  deposits  increased by $21.5  million from  December 31, 2001 to June 30,
2002. Deposits have grown at historically consistent levels. Noninterest bearing
deposits were up from 7.45% of total  deposits as of December 31, 2001, to 9.12%
of total deposits as of June 30, 2002. Growth in noninterest bearing deposits as
a percentage of total deposits will continue to be encouraged.

         The table below illustrates our deposits by major categories as of June
30, 2002 and December 31, 2001:

DEPOSITS
                                           June 30                  December 31
                                            2002                       2001

Interest-bearing demand deposits          $ 21,000                     $ 18,886

Savings deposits                            22,787                       17,113

Time deposits less than $100,000            76,706                       75,672

Time deposits $100,000 and over             52,434                       44,498
                                       -----------                  -----------
         Total interest-bearing deposits   172,927                      156,169

         Total noninterest-bearing deposits 17,356                       12,575
                                          --------                   ----------
                  Total                  $ 190,283                    $ 168,744

Liquidity
     Liquidity  management is the process by which management attempts to insure
that adequate  liquid funds are  available to meet  financial  commitments  on a
timely basis.  These  commitments  include  withdrawals by  depositors,  funding
credit  obligations  to  borrowers,  servicing  long-term  obligations,   paying
operating  expenses,   funding  capital  expenditures  and  maintaining  reserve
requirements.  Liquidity is monitored closely by the Asset/Liability  Management
Committee of the First Security Bank Board of Directors, which monitors interest
rates and  liquidity  risk while  implementing  appropriate  funding and balance
sheet strategies.

     First  Security Bank has  established a limited  number of  alternative  or
secondary  sources to provide  additional  liquidity  and funding  sources  when
needed to support lending activity or other liquidity needs.  These  alternative
funding sources  currently  include unsecured federal funds lines of credit from
five  correspondent  banks  aggregating  approximately  $24  million;  a secured
repurchase  agreement  line of credit from a  correspondent  bank based upon the
market  value  of  pledged  securities;   and  a  secured  repurchase  agreement
arrangement with an agency of the Commonwealth of Kentucky.  Additionally, First
Security  Bank is a member of the  Federal  Home Loan Bank of  Cincinnati  which
allows  First  Security  Bank  to  borrow  based  on  the  level  of  qualifying
residential loans which serve as collateral for this type of borrowing.  At June
30, 2002,  First Security Bank could borrow an additional $11.2 million based on
available collateral.

     First  Security Bank had total  short-term  borrowings of $15.3 million and
$16.4  million  as of  December  31,  2001,  and  June  30,  2002  respectively.
Borrowings at June 30, 2002 were in the form of customer  repurchase  agreements
in the amount of $2.9 million, and Federal Home Loan Bank advances in the amount
of $13.5  million.  The need for future  borrowing  arrangements  above  current
levels will be evaluated by management  with  consideration  given to the growth
prospects of the loan  portfolio,  liquidity  needs,  costs of deposits,  market
conditions and other factors.  Short-term  liquidity  needs for periods of up to
one  year may be met  through  federal  funds  lines of  credit  borrowings  and
short-term  Federal  Home  Loan  Bank  advances.  The  Federal  Home  Loan  Bank
additionally  offers advance programs of varying maturities for terms beyond one
year.

Capital
     Regulatory  agencies measure capital adequacy within a framework that makes
capital  requirements,  in part,  dependent on the  individual  risk profiles of
financial  institutions.  Total GAAP  capital as of December  31, 2001 was $16.8
million or 8.31% of assets. Total capital as of June 30, 2002 increased to $17.9
million,  but because assets  increased at a faster rate,  total GAAP capital to
assets declined to $17.9 million or 7.94% of assets. Total risk based capital to
risk weighted assets was 10.90% as of December 31, 2001, decreasing to 10.68% as
of June 30,  2002.  First  Security  Bancorp has enjoyed  abundance of growth in
total assets which has outpaced growth in total capital.

     First  Security  Bancorp  and First  Security  Bank  exceed the  regulatory
requirements  for all three capital  ratios.  First Security  Bancorp intends to
maintain  a  capital  position  that  meets or  exceeds  the  "well-capitalized"
requirements as defined by these regulations by exploring opportunities to raise
new capital or moderate its growth rate at levels  sustaining a well capitalized
position.  In addition to capital  regulations,  state banking regulations limit
First Security  Bank's ability to pay dividends  without prior  approval.  Under
these  regulations,  First  Security Bank may pay dividends in any calendar year
only to the extent of current  year's net profits  plus the retained net profits
of the preceding two years and not in excess of the balance of retained earnings
then on hand.  First Security  Bancorp also has regulatory  limits on dividends,
but  less  restrictive.  First  Security  Bancorp  does  not  anticipate  paying
dividends to  shareholders  for at least the next several  years as any earnings
generated will need to be retained to support future growth opportunities.



Part II - Other Information

Item 4. Submission of Matters to a Vote of Security Holders

         On May 21, 2002, First Security Bancorp held its Annual Meeting of
Shareholders for which the Board of Directors solicited proxies. All of the
proposals stated in First Security Bancorp's proxy statement dated April 19,
2002 were adopted at the Annual Meeting.

         The proposals voted on and approved by the shareholders at the Annual
Meeting were as follows:

     1. Election of seven (7) Class II Directors (Len Aldridge, Julian E. Beard,
A.F.  Dawahare,  Fon Rogers, II, Robert J. Rosenstein,  Dr. Ron J. Saykaly,  and
Kathy E. Walker) to serve until the Annual Meeting of Shareholders in 2005; and

         2. Approval of the appointment of Crowe, Chizek, and Company, LLP to
serve as independent public accountants and auditors for First Security Bancorp
for the year 2002.

     In addition to the Class II Directors  elected at the Annual  Meeting,  the
terms of eight (8) Class I Directors  (John S.  Shropshire,  R. Greg  Kessinger,
Dennis R. Anderson, John D. Barlow, Erle L. Levy, David R. McCulloch, Dr. Ira P.
Mersack,  and D. Woodford Webb,  Jr.) and seven (7) Class III Directors  (Harold
Glenn  Campbell,  William A. Combs,  Jr., Dr. Kenneth L. Gerson,  Tommy R. Hall,
Nick O. Rowe,  Richard S.  Trontz,  and William T. Vennes)  continued  after the
Annual Meeting until the Annual Meetings of 2003 and 2004, respectively.

     The election of the seven (7) Class II Directors at the Annual  Meeting was
approved by a vote of 1,238,060 shares for, zero (0) shares against,  and 13,400
shares withheld.  The approval of the appointment of Crowe, Chizek, and Company,
LLP at the Annual  Meeting was effected by a vote of  1,254,145  shares for, and
200 shares against.



Item 6. Exhibits and Reports on Form 8-K

        (a) Exhibits

            The exhibits listed on the Exhibit Index of this Form 10-QSB are
            filed as a part of this report.

        (b) Reports on Form 8-K

            A report on Form 8-K dated April 26, 2002 was filed by First
            Security Bancorp reporting for the quarter ending March 31,2002.

                                   SIGNATURES

     In accordance  with the  requirements  of the Exchange Act , First Security
Bancorp  caused  this  report  to be signed  on its  behalf by the  undersigned,
thereunto duly authorized.
                                                First Security Bancorp, Inc.

                                                /s/John S. Shropshire
Date:  August 14, 2002                   John S. Shropshire
                                                Chairman, President and CEO
                                                (Principal Executive Officer)

                                                /s/Ben A. New
Date:  August 14, 2002                   Ben A. New
                                                Chief Financial Officer
                                                (Principal Financial and
                                                Accounting Officer)


                                    EXHIBITS

Exhibit 11.       Statement Regarding Computation of Per Share Earnings
                  (see Part I, Note 4 "Earnings Per Share" for computation)

         See Part I, Note 4 "Earnings Per Share" for calculations


Exhibit 99.   Certification of Principal Executive Officer and Principal
              Financial Officer Pursuant to 18 U.S.C. Section 1350
<PAGE>

Exhibit 99.

CERTIFICATION OF PRINCIPAL  EXECUTIVE  OFFICER AND PRINCIPAL  FINANCIAL  OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350

In connection with the accompanying  Form 10-Q of First Security  Bancorp,  Inc.
for the quarter  ended June 30, 2002,  I, John S.  Shropshire,  Chief  Executive
Officer  of  First  Security  Bancorp,  Inc.,  hereby  certify  pursuant  to  18
U.S.C.ss.1350,  as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002,
that:

(1) such Form 10-Q for the quarter ended June 30, 2002 fully complies with the
requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934;
and

(2) the  information  contained in such Form 10-Q for the quarter ended June 30,
2002 fairly  presents,  in all material  respects,  the financial  condition and
results of operation of First Security Bancorp, Inc.


By:      /s/ John S. Shropshire
   --------------------------------------------------
         John S. Shropshire
         Chief Executive Officer

Date:  August 14, 2002.


In connection with the accompanying  Form 10-Q of First Security  Bancorp,  Inc.
for the quarter ended June 30, 2002, I, Ben A. New, Chief  Financial  Officer of
First Security Bancorp,  Inc.,  hereby certify pursuant to 18 U.S.C.ss.1350,  as
adopted pursuant toss.906 of the Sarbanes-Oxley Act of 2002, that:

(1) such Form 10-Q for the quarter  ended June 30, 2002 fully  complies with the
requirements  of section 13(a) or 15(d) of the Securities  Exchange Act of 1934;
and

(2) the  information  contained in such Form 10-Q for the quarter ended June 30,
2002 fairly  presents,  in all material  respects,  the financial  condition and
results of operation of First Security Bancorp, Inc.


By:      /s/ Ben A. New
   -----------------------------------------
         Ben A. New
         Chief Financial Officer

Date:  August 14, 2002.